I am being given a business

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Brad2770

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You force the company to buy life insurance policies on both principles and those funds are used to buy out the dying partner's interest and cover the taxes as well. This lets your kids/wife make money off the transfer of equity. Make sure all of this is spelled out in detail in the operating agreement and have a lawyers go over it.

Ps... lots of other really important shit needs baked into the operating agreement.
That was the guy that had the tree business/had 45k in tax debt. No way am I going to partner with him now.
 
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Sludig

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I think he's just saying how that would be handled in a healthy situation, from the get go Sanrith was saying run from that guy.

Am confused, guy wants to start with a business with you when I thought he was the one supposed to be moving up corporate chains and letting you move up positions from the post before this update? Now he suddenly wants a separate business or cut and make a new one?
 
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Brad2770

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I think he's just saying how that would be handled in a healthy situation, from the get go Sanrith was saying run from that guy.

Am confused, guy wants to start with a business with you when I thought he was the one supposed to be moving up corporate chains and letting you move up positions from the post before this update? Now he suddenly wants a separate business or cut and make a new one?
I’m assuming you’re talking about the guy I’m currently working for.

I was supposed to meet for a personal training session and my boss had scheduled the company dinner at that time. I told him I couldn’t make it (I had already canceled on the personal trainer before because I had to go out of town for work). He called me up requesting that I be there. During that call, he said that he wanted to start a pest control business with me and that we already had infrastructure to run it (sales guys and office staff). He didn’t go too much into detail after that.

I have a guy wanting to hire me, but I would be doing very steady and difficult work, but for 50% more pay. I would be installing Sentricon systems and I’m not exactly a fan of the product. But 50% more pay. My boss knows this and I think he is dangling a carrot (for now) until we actually sit down and talk business. I’m going to pressure him for the conversation.

That’s where I am now. It feels like this could be it though. Just a gut feeling.
 

Brad2770

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He talked to me yesterday. He wants to get it going by the start of March.

it’s strange how this all panned out. I had two original plans, which I had stated here before:

Get bills paid and start business in three years (March 2023 was target date) or live in car, pay bills and get things started in one year (March 2021).

I had kind of thought this was going to be back burner until economy got a little bit better, but here I am. I won’t be 100% owner and I’m not really sure what my % would be, but I found out yesterday it will primarily be me and my boss (the owner) of the current franchise I work for. I also found out that my boss’ old boss (my boss was high up corporate sales at TruGreen, so even the guy above him) and another high up corporate sales at TruGreen will be advising him on this. I see no reason this would fail.

I told him my expectations within a 4 year time period to start:

Salary doubled (I made $71k for 2022) and I work 40-45 hours a week. Then we go from there. He said he doesn’t see why we couldn’t accomplish that.

For now, he wants a comprehensive list of everything I know how to do and what equipment I’ll need to do it. He also wants competitive price lists of all these services. He wants that by the end of the month.
 

Arative

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He talked to me yesterday. He wants to get it going by the start of March.

it’s strange how this all panned out. I had two original plans, which I had stated here before:

Get bills paid and start business in three years (March 2023 was target date) or live in car, pay bills and get things started in one year (March 2021).

I had kind of thought this was going to be back burner until economy got a little bit better, but here I am. I won’t be 100% owner and I’m not really sure what my % would be, but I found out yesterday it will primarily be me and my boss (the owner) of the current franchise I work for. I also found out that my boss’ old boss (my boss was high up corporate sales at TruGreen, so even the guy above him) and another high up corporate sales at TruGreen will be advising him on this. I see no reason this would fail.

I told him my expectations within a 4 year time period to start:

Salary doubled (I made $71k for 2022) and I work 40-45 hours a week. Then we go from there. He said he doesn’t see why we couldn’t accomplish that.

For now, he wants a comprehensive list of everything I know how to do and what equipment I’ll need to do it. He also wants competitive price lists of all these services. He wants that by the end of the month.
are you getting an ownership stake or will you be an employee?
 
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Brad2770

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are you getting an ownership stake or will you be an employee?
Haven’t gotten that far in conversation. In the next day or two, I’ll break down all of what (I think) he is going to be responsible for and what I’ll be responsible for. I’m hoping you fine gentlemen will help me find a comparable amount of the business to ask for.
 

Brad2770

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Not really an update, but sone decent good news and something the boss’ wife said-

I have 4 weeks of vacation a year, plus all major recognized holidays including the day after thanks giving and Christmas Eve. I was given an additional 5 paid days off, but for bad weather. I get to choose if I use them, but only on bad weather days.

I have been having some mechanical issues with sone of my equipment. I believe in chain of command and my boss (not owner) has not been addressing them. Today I reached a boiling point and called the owner and told him I’m dropping the truck off and will not be working until the issues are resolved.

During this conversation, I made a comment that we wouldn’t have these issues if I were the one in control of the well being of the tools and equipment. He said “You may very well be.” I didn’t think much of it until the boss’ wife called snd told me that she was sorry this stuff was happening and said “I wish you are the boss of Ft. Worth and San Antonio.”

I called the boss’ daughter (she runs San Antonio). Apparently there has been some unhappiness with my direct boss within the family.
 

Brad2770

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Got this text about 10 minutes ago.

56A05A32-738E-4962-9FEE-3AE8C5B9950B.png


Oh, everything fixed on my truck today as well.
 
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Brad2770

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I took the offer. 70k a year plus year end bonuses. He said my first year bonus will be around 3-5k. Company truck and gas. Plus, I can use company truck and gas to come see my son and I can fill his tank for return trip with company gas. I’m finding 3 bedroom houses for rent cheaper than my one bedroom apartment. He’s paying for the move and I’ll be working about 600-700 less hours a year.
 
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Sanrith Descartes

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I took the offer. 70k a year plus year end bonuses. He said my first year bonus will be around 3-5k. Company truck and gas. Plus, I can use company truck and gas to come see my son and I can fill his tank for return trip with company gas. I’m finding 3 bedroom houses for rent cheaper than my one bedroom apartment. He’s paying for the move and I’ll be working about 600-700 less hours a year.
Congrats man.
 

Brad2770

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This doesn’t include the pest control. He said he will go into detail with that once I’m trained in manager stuff and I’m settled in.

In all honesty, the pay is almost the same. It’s the reduction of hours, company truck/gas and cheaper rent that is a giant plus.
 
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Sanrith Descartes

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This doesn’t include the pest control. He said he will go into detail with that once I’m trained in manager stuff and I’m settled in.

In all honesty, the pay is almost the same. It’s the reduction of hours, company truck/gas and cheaper rent that is a giant plus.
Use the time you are running that location as a learning experience. Nothing better than practicing running your own business on someone else's dime.
 
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Brad2770

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My bonuses will be 2% of my production for the year. Last year, I did half a million. I also had all the Home Depot’s in DFW. I have other commercial accounts here.

I will only have two commercial accounts in San Antonio. He thinks I’ll be able to pull 300-400k there. The rest will be residential for now.
 

BrutulTM

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My bonuses will be 2% of my production for the year. Last year, I did half a million. I also had all the Home Depot’s in DFW. I have other commercial accounts here.

I will only have two commercial accounts in San Antonio. He thinks I’ll be able to pull 300-400k there. The rest will be residential for now.
Just keep in mind that no matter what he pays you, he's still making money from your labor. The place you really want to be is to have other people doing the work and you reaping the profits.
 
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Brad2770

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He says that I should be in that place by the beginning of next summer. Realistically, I expect it won’t change until the end of 2024. I’m ok with that. And I’m ok with baby steps.

My current direct boss doesn’t run production. During my conversation last Saturday, the owner dropped to me that it’s going to change. This may position me so that I’m taking care of both locations; referring back to his wife calling me saying she wished I was the manager of Ft. Worth and San Antonio. I know my direct boss won’t run full production. Pretty good chance he would go back to the place we worked at before.
 
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Hateyou

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This doesn’t include the pest control. He said he will go into detail with that once I’m trained in manager stuff and I’m settled in.

In all honesty, the pay is almost the same. It’s the reduction of hours, company truck/gas and cheaper rent that is a giant plus.
That’s cool man. My wife has a company car and gas and that’s a huge incentive imo. Not having to get surprise maintenance expenses is a big stress relief. Not worrying about driving on long trips and putting tons of miles on your own car is great.
 
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Mizake

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Just keep in mind that no matter what he pays you, he's still making money from your labor. The place you really want to be is to have other people doing the work and you reaping the profits.

Although I agree with this sentiment 100%, the truth and reality is that not many people are cut out to be their own boss or run a business. In my experience it's like 2 out of 10 that I think could succeed. Most people do not have the mental fortitude, the work ethic, or the financial savvy to run a successful business, which is why so many fail.

I've been following this thread from time to time with Brad2770 Brad2770 trying to get his own truck and business going, and it was eye-opening that he was not ready to make the leap. Just so much advice to be given since he didn't know the basics, then the whole fiasco with the truck.....

I'm really proud of him because he's come a long way, and this seems like the best he's been doing in a long time. A good, steady, high paying job is nothing to laugh at, given the initial circumstances he was in....wasn't he even living out of his car at some point?

Enjoy your new job and salary. Maybe revisit the idea of starting your own business in the future, but have a realistic assessment as far as whether or not you are cut out for it or if you can even succeed. The bare minimum is to come up with a business model and do a profit/cost analysis. If you don't even know what that means or how to start, then you aren't ready yet to start your own business.
 
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Sanrith Descartes

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Although I agree with this sentiment 100%, the truth and reality is that not many people are cut out to be their own boss or run a business. In my experience it's like 2 out of 10 that I think could succeed. Most people do not have the mental fortitude, the work ethic, or the financial savvy to run a successful business, which is why so many fail.

I've been following this thread from time to time with Brad2770 Brad2770 trying to get his own truck and business going, and it was eye-opening that he was not ready to make the leap. Just so much advice to be given since he didn't know the basics, then the whole fiasco with the truck.....

I'm really proud of him because he's come a long way, and this seems like the best he's been doing in a long time. A good, steady, high paying job is nothing to laugh at, given the initial circumstances he was in....wasn't he even living out of his car at some point?

Enjoy your new job and salary. Maybe revisit the idea of starting your own business in the future, but have a realistic assessment as far as whether or not you are cut out for it or if you can even succeed. The bare minimum is to come up with a business model and do a profit/cost analysis. If you don't even know what that means or how to start, then you aren't ready yet to start your own business.
This is FOH. You aren't allowed to say positive things. What are you, a Fed?
 
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Brad2770

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Although I agree with this sentiment 100%, the truth and reality is that not many people are cut out to be their own boss or run a business. In my experience it's like 2 out of 10 that I think could succeed. Most people do not have the mental fortitude, the work ethic, or the financial savvy to run a successful business, which is why so many fail.
I used to be an operations supervisor for a janitorial company in Dallas. I was there for two years. During that two years, I never lost a customer. My customer service skills are impeccable. This, topped with customers in my current line of work constantly asking specifically for me, old bosses calling or texting if I can come back to them and then an old man offering to give me his customer base that brought upon my desire to run my own business.

I was honest with the company I was working for at the time. Told them about my plans to start a business and even informed them along the way of my progress. I wasn’t bragging, but keeping communication so they would never worry that I would steal business. They fired me anyways. At the time, I only had $3000 in the bank, no where near what I wanted in the bank to start my business and about six months before I planned to official launch. Not only that, but a month after, I got rear ended and Farmers fucked me around for 3-6 months on the insurance payout. I had a pretty solid plan. Everything was going as planned. I trusted my employer. They got scared and acted as cowards. I didn’t have an alternate plan because my initial plan was great.

I have no doubt I could run a business just fine. Would it have turned into a statewide or national chain? Probably not, but I have no doubt I could have had at least 5 trucks on the road and helping some good men take care of their families.

As for my current situation:

I’ll need a little more time to figure out what is going on, but there has always been sone minor attraction between myself and the boss’ daughter. One of the customers here that likes me recommended her cleaning lady to help me get unpacked and situated. I told the daughter this and she said she wanted to do it instead of the cleaning lady and wouldn’t charge me. Then, when I was telling her that I was going to buy a queen bedroom suit, she said “No, you’re buying a king. It’s not much more snd I would buy a king.”

Going back to the Christmas party, we were at a very nice restaurant. I was sitting next to the boss and across from his daughter. She had asked for a refill on her water and the waiter hadn’t abliged. The third time he came back, I said “Tge young lady has asked for water twice, can we get that now please?”, “Yes sir”. My boss turned to me and said “Thank you.”.

The next year is going to be interesting.
 
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